BTC has chances for more bullish actions

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC breached key resistance level that turned into support now at 599.00, reinforcing the chances of heading for more positive targets, waiting to breach 683.60 to open the way towards 751.00.

Risk limits below 587.00.


The problem is that its being tested way too much. Over the next few days we have CEX.IO 51% issue and the FBI sale of 28k Bitcoins (the other 180k is still being challenged in court).
Those 2 events may simply break this weak support.
ChartArt LastBattle
The CEX.IO 51% issue with GHash is almost resolved - the pool hasing power is much smaller since enough miners have left the pool, also solutions against the 51% attack problem are discussed by experts. The second following tweet came from the Chief Scientist, Bitcoin Foundation, you can't get higher level approval than that.

- https://twitter.com/ofnumbers/status/479491999314112512
- https://twitter.com/gavinandresen/status/479387478952923136

And the sale of the 28k Bitcoins turned into something positive, since the list of interested bidders have leaked:

- http://www.techmeme.com/140619/p7#a140619p7
Are you working for economies.com? Their Bitcoin chart is exactly the same as yours :)

FXHighway ChartArt
Yes ,, I'm doing the technical analysis there
+1 Reply
ChartArt FXHighway
Awesome! I read your analysis there several times per week. Keep up the good work.
FXHighway ChartArt
Thank you ,, I hope you get the best out of the analysis and forecasts ..
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